A little business news
I missed this in the wake of the holiday weekend: the share price for CanWest, one of Canada’s meg-media companies and a major owner of newspapers, jumped 12 per cent. The reason? Speculation that the company is considering taking itself private.
According to Reuters:
Citing “people familiar with the situation,” the Globe and Mail newspaper reported on Saturday that Canwest had pitched the idea of a go-private deal to Fairfax, which owns almost 19 percent of Canwest’s shares. The paper said no deal was imminent and that a privatization may not materialize.
Canwest spokesman John Douglas declined to comment on Tuesday but characterized the report as “pure speculation.
Prices hit $2.25 a share and remain up today, at $2.30 a share, although they’ve drifted down from the day’s high of $2.37. They are still well off the 52-week high of $8.28 a share, and the graph of their share prices over the past year looks like a slope in the Rockies.
Comments
Leave a Reply
-
A blog by Mark Hamilton, journalism instructor and former journalist, on the rapidly changing world of journalism.
-
From Twitter
- Anybody else get the feeling that McCain's sole pitch tonight is to his base? 9 mins ago
- Hey, I do love Canada 25 mins ago
- McCain is some magic guy: deficit gone, most oil dependency gone, all in first term. Wow. 37 mins ago
- Sarah P{alin is not a role model for any of the women I know. 41 mins ago
- Is America going to buy McCain as the victim of negative ads? 54 mins ago
- More updates...
Posting tweet...
Powered by Twitter Tools.
-
Categories
-
Meta
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 2.5 Canada License.
